Short Interest: Is Western Digital Corporation (NASDAQ:WDC)’s Fuel Running High? Reports Show Less Sellers

December 1, 2016 - By Marguerite Chambers   ·   0 Comments

Short Interest: Is Western Digital Corporation (NASDAQ:WDC)’s Fuel Running High? Reports Show Less Sellers

The stock of Western Digital Corporation (NASDAQ:WDC) registered a decrease of 15.67% in short interest. WDC’s total short interest was 17.08 million shares in December as published by FINRA. Its down 15.67% from 20.26M shares, reported previously. With 5.18M shares average volume, it will take short sellers 3 days to cover their WDC’s short positions. The short interest to Western Digital Corporation’s float is 6.02%. About 2.45 million shares traded hands. Western Digital Corp (NASDAQ:WDC) has risen 38.21% since April 28, 2016 and is uptrending. It has outperformed by 32.29% the S&P500.

Western Digital Corporation is a developer, maker and well-known provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The company has a market cap of $18.22 billion. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions). It currently has negative earnings.

Insitutional Activity: The institutional sentiment decreased to 1.13 in Q2 2016. Its down 1.02, from 2.15 in 2016Q1. The ratio dropped, as 54 funds sold all Western Digital Corp shares owned while 132 reduced positions. 120 funds bought stakes while 280 increased positions. They now own 241.54 million shares or 6.73% more from 226.31 million shares in 2016Q1.
Trust Of Toledo Na Oh has 16,323 shares for 0.22% of their US portfolio. Artemis Investment Ltd Liability Partnership last reported 1.36 million shares in the company. Mitsubishi Ufj Secs has 0.01% invested in the company for 90 shares. Sandy Spring Financial Bank accumulated 0% or 21 shares. Robotti Robert, a New York-based fund reported 57,205 shares. Massmutual Trust Fsb Adv, a Connecticut-based fund reported 501 shares. The Tennessee-based State Of Tennessee Treasury Department has invested 0.06% in Western Digital Corp (NASDAQ:WDC). Raymond James Fincl Services Advsr holds 13,012 shares or 0.01% of its portfolio. Loews Corporation, a New York-based fund reported 424,910 shares. Hilltop Park Associates Lc reported 10,000 shares or 1.97% of all its holdings. Moors And Cabot reported 11,866 shares or 0.1% of all its holdings. First Manhattan last reported 0% of its portfolio in the stock. Diam Limited owns 27,157 shares or 0.02% of their US portfolio. Lombard Odier Asset (Usa) accumulated 25,000 shares or 0.14% of the stock. Trexquant Limited Partnership has invested 0.06% of its portfolio in Western Digital Corp (NASDAQ:WDC).

Insider Transactions: Since September 21, 2016, the stock had 0 buys, and 9 selling transactions for $2.69 million net activity. CORDANO MICHAEL D had sold 889 shares worth $50,148 on Monday, November 7. DENERO HENRY T also sold $100,499 worth of Western Digital Corp (NASDAQ:WDC) shares. The insider RAY MICHAEL CHARLES sold $370,980. Shares for $125,348 were sold by MASSENGILL MATTHEW E.

Western Digital Corp (NASDAQ:WDC) Ratings Coverage

Out of 28 analysts covering Western Digital (NASDAQ:WDC), 19 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 68% are positive. Western Digital has been the topic of 73 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Mizuho maintained Western Digital Corp (NASDAQ:WDC) on Thursday, September 8 with “Buy” rating. Maxim Group maintained Western Digital Corp (NASDAQ:WDC) on Wednesday, October 12 with “Buy” rating. The firm has “Buy” rating given on Thursday, July 30 by Maxim Group. The firm earned “Outperform” rating on Monday, January 18 by RBC Capital Markets. The rating was initiated by Cowen & Co with “Market Perform” on Monday, April 11. On Wednesday, September 7 the stock rating was maintained by Cowen & Co with “Outperform”. Goldman Sachs maintained the shares of WDC in a report on Wednesday, August 17 with “Sell” rating. The firm earned “Neutral” rating on Monday, June 6 by Goldman Sachs. The firm has “Buy” rating by Citigroup given on Friday, May 27. The stock has “Buy” rating given by Jefferies on Friday, May 27.

WDC Company Profile

Western Digital Corporation (Western Digital), incorporated on October 26, 2000, is a developer, maker and well-known provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions). The Firm also generates license and royalty revenue related to its intellectual property which is included in each of the three categories.

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By Marguerite Chambers

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